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Newmont Announces Divestment of Akyem in Ghana for up to $1B
NEMNewmont(NEM) ZACKS·2024-10-09 11:10

Newmont Corporation (NEM) recently announced that it has reached a definitive agreement to sell its Akyem operation in Ghana to Zijin Mining Group Co., Ltd. for up to 1billionincash.ThesaleispartofNewmont′scontinuouscommitmenttodivestnon−corebusinessesasitshiftsitsstrategicfocustoTier1assets.TheagreementstatesthatNewmontwillget1 billion in cash. The sale is part of Newmont's continuous commitment to divest non-core businesses as it shifts its strategic focus to Tier 1 assets.The agreement states that Newmont will get 900 million in cash upon closing. Pending the fulfillment of certain conditions, a further $100 million is likely to be received.The transaction's pr ...